Owning a house is a dream for many individuals, and this financial goal has transcended nationality and religion. If you are ready with your financial plan and necessary savings for buying a house, the next step is to decide whether to buy 2BHK apartments in Gurgaon or an independent house.
In most cases, due to lack of space and higher price rates in metro cities, most potential home buyers look for apartments.
Apartments usually come cheaper than independent properties, which are generally in the form of a duplex or a villa. But, you need to consider various factors like rent, location, accessibility, security, and many more before choosing this lifetime investment.
So here, in this blog, we will explain some of the fundamental differences between an apartment and an independent house. This will help you select the best choice according to your preference.
2BHK Apartment vs. Independent House
1. The cost of buying
Buying an independent house can be a lot more expensive than buying an apartment. Therefore, the home loan requirement amount will substantially increase. The cost would include the plot price, stamp duty that is paid to the government, and the cost of electricity. It will also include the cost of raw materials and labour costs depending on the type of city and the architecture fees.
However, on the other hand, for an apartment, the builder is responsible for taking care of the technical formalities. The buyer has to just pay the required amount for the apartment.
2. Special amenities
When you buy apartments in Gurgaon, you gain automatic subscription to various amenities like parking space, security, 24×7 power backup, water system, and fire safety mechanism.
However, for an independent property, all the services have to be taken care of by the owner himself. This also adds about two to three percent to the total property value as you may need to install a generator or an inverter and a water mechanism.
3. Bank Loans
In most cases, banks and financial institutions offer housing loans for independent properties after scrutiny of the property, the seller, and the buyer. This process is time-consuming.
On the other hand, housing loans for apartments are readily available as most residencies have tie-ups with various banks. This makes the process hassle-free and less time-consuming.
4. The cost of maintenance
When you own an independent property, you have to take care of maintenance, repair, cleanliness, which involves a lot of natural resources and constant effort.
On the other hand, in a society with apartments, you will have a dedicated maintenance team who will take care of all the cleanliness and other tasks around the clock.
5. Capital appreciation
While talking about independent houses, capital appreciation is not as high as compared to an apartment. This is basically due to the big amount of initial capital that is involved and the low demand rate compared to the apartments.
This is why it becomes hard to sell an independent property; however, on the other hand, apartments are always in demand and are easy to sell.
6. Frauds and Scams
If you are a new buyer, you can easily fall prey to various frauds and scams whenever purchasing independent houses.
In the case of apartments, you can check the reputation of the buyer and the past record of their previous projects. Therefore you can invest your hard-earned money in a trustworthy and quality project.
An independent house or a bungalow is suitable for anyone who has a big family and has the capital required for maintenance. However, nowadays, most modern nuclear families living on a budget prefer buying an apartment where they can spend their time in peace. Now, as the builders have realized the demand for apartments, they provide unique amenities and facilities to attract more and more buyers. One such popular residential project is Krisumi Japanese Waterfall Residences. The residential project has been designed using the Japanese form of art and architecture and is the most in-demand residency in Gurgaon.